Bernanke’s Prescription for Inflation — Give the Fed More Power
‘In a fiat-money system — one in which money is not backed by a physical commodity such as gold — it is not possible for a central bank to leave asset prices and yields entirely to the free market.’
Let’s see. Inflation currently exceeds 8 percent a year in the United States. Our central bank, the Federal Reserve, is sitting on roughly $9 trillion in financial assets — most of them U.S. Treasury debt obligations — that it purchased with money it created for just that purpose. And along comes a new book by a former Fed chairman, Ben Bernanke, seeking to explain and exalt how we got here.
Please check your email.
A verification code has been sent to
Didn't get a code? Click to resend.
To continue reading, please select:
Enter your email to read for FREE
Get 1 FREE article
Join the Sun for a PENNY A DAY
$0.01/day for 60 days
Cancel anytime
100% ad free experience
Unlimited article and commenting access
Full annual dues ($120) billed after 60 days
